The
dollar traded near a 12-year high against the euro as signs of cooling
in China’s economy highlighted the diverging fortunes of the world’s two
biggest economies.
The
greenback maintained its strength before a report Tuesday forecast to
show U.S. retail sales increased by the most in a year, bolstering the
case for the Federal Reserve to raise interest rates in 2015.
Australia’s dollar led commodity currencies lower on Monday as a slump
in trade growth amplified concern China will report later this week its
slowest economic output since the global recession.
The
U.S. currency was little changed at $1.0572 per euro as of 8:05 a.m. in
Tokyo, after gaining 0.4 percent Monday. It reached $1.0458 on March
16, the strongest level since January 2003. The greenback traded at
120.08 yen from 120.13.
Source: Bloomberg
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